Could one of XRP’s biggest backers be getting scooped up? A bold tweet from pro-Ripple lawyer John Deaton is stirring speculation that crypto exchange Uphold could be acquired – and if that happens, it might be one of the most strategic deals in the XRP ecosystem yet.
In a recent tweet, Deaton suggested that Uphold could be bought by a major player. His list? It’s the who’s who of crypto and traditional finance powerhouses.
“I put on Uphold being acquired by a major player,” Deaton tweeted.
He tagged names like Coinbase, Kraken, Gemini, Robinhood, Binance, Ripple, and TradFi giants JPMorgan, Goldman Sachs, Fidelity, Citi, and PayPal.
So what makes Uphold such a hot target?
Uphold isn’t just another crypto platform listing XRP, but is built around it. According to the latest transparency report, XRP makes up nearly 70% of Uphold’s total reserves, holding $4.54 billion out of $6.61 billion.
The numbers get even more interesting: Uphold has processed over 26 million XRP transactions, and just this week, it launched USDC support on the XRP Ledger, showing its deep commitment to the XRP ecosystem. Add to that a fully-backed model with 100.6% reserves, and it’s clear that this is a platform built with XRP utility in mind.
Is this just Deaton shooting arrows in the dark? Well, no.
Uphold’s own CEO, Simon McLoughlin, recently confirmed the exchange is exploring an IPO or a potential sale. The company brought on FT Partners to weigh its options.
While no valuation has been officially disclosed, a source close to the matter says the target could go north of $1.5 billion. That’s not hard to imagine – Uphold’s revenue is expected to hit over $300 million in 2025, up from just $80 million in 2022, thanks to partnerships with firms like IG Group and a German bank.
There’s one twist that could complicate a buyout. McLoughlin is a massive XRP fan and a true believer in the XRPFi vision. That personal conviction could mean he’s unlikely to sell unless the buyer shares his vision or is willing to pay a steep premium.
Still, the interest is real and the timing couldn’t be more aligned. XRP is gaining momentum, institutions are circling, and Uphold sits at the center of that growing demand.
Whether it goes public or gets picked up, Uphold isn’t staying quiet for long. And if Deaton’s instincts are right, this could be a defining move in the next phase of XRP’s rise.
We’ll follow this story like a hawk and keep you updated – right here on Coinpedia!
Yes, Uphold’s substantial XRP holdings (nearly 70% of its reserves, or $4.54 billion) would likely significantly influence its acquisition price. Its deep integration with XRP and its commitment to the ecosystem make it a unique and valuable asset for potential buyers seeking direct exposure and influence within the XRP community. Uphold is reportedly targeting a valuation north of $1.5 billion.
The chances are significant. Uphold’s CEO has confirmed exploring a sale, and traditional finance firms like JPMorgan, Goldman Sachs, Fidelity, Citi, and PayPal are among those suggested by John Deaton as potential suitors. Uphold’s ability to bridge traditional and digital assets makes it a strategic target for TradFi looking to expand into crypto.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Bitcoin is still moving in a tight range, but short-term charts show the recent drop…
Bitcoin, Ethereum and XRP are trading lower today as crypto markets react to strong U.S.…
Crypto research platform Altcoin Buzz has released a side-by-side comparison of two popular altcoins, Bittensor…
A growing number of crypto analysts are drawing an interesting comparison between XRP and the…
Russia’s central bank has announced a major step toward regulating the future of cryptocurrencies. The…
As the crypto market remains in a prolonged bear market, investors are wondering whether altcoins…
